Waldron Private Wealth LLC Purchases 273 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Waldron Private Wealth LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,060 shares of the network technology company’s stock after purchasing an additional 273 shares during the period. Waldron Private Wealth LLC’s holdings in Palo Alto Networks were worth $6,173,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its position in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in Palo Alto Networks by 16.4% during the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after buying an additional 32,626 shares during the last quarter. Jennison Associates LLC raised its position in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after acquiring an additional 198,078 shares during the period. Brookstone Capital Management raised its position in Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after acquiring an additional 8,611 shares during the period. Finally, Wealthspire Advisors LLC boosted its stake in Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded down $1.94 during trading on Tuesday, hitting $376.47. The company’s stock had a trading volume of 782,321 shares, compared to its average volume of 4,011,037. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The company has a market capitalization of $121.90 billion, a PE ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The company has a fifty day simple moving average of $349.61 and a two-hundred day simple moving average of $324.19.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PANW shares. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Barclays lifted their price target on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.